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Selecting the Best Whole Life Insurance Plan
The maximum age of cover beyond 99 years of age increases the premium cost dramatically. Not only that, cover till 80 may be insufficient if you are below 35 years of age given the rising life expectancy.
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How to Select the Best Whole Life Insurance Plan?
Maximum Age of Cover: You may wonder why you would need to check the maximum age of cover for a whole life plan, since it has to cover you for your lifetime. Key to this factor is the definition of whole life, followed by the insurer. For some insurers, whole life policies may consider covering you only till the age of 80, while others may consider 99. There are more whole life policies which offer maximum age of cover beyond 100 years of age. The maximum age of cover beyond 99 years of age increases the premium cost dramatically. Not only that, coverage till 80 may be insufficient if you are below 35 years of age, given the rising life expectancy.